The 80-acre development is called South Dakota's first urban innovation community. What does that mean? State officials hope that research and advanced manufacturing businesses will call this area home and spur not only new ideas and products, but also economic growth.

"Too many of you drive to Omaha, Chicago, Minneapolis or Denver to see your kids. Many of them want to stay in South Dakota but are unable to find the jobs they desire. To that I say, 'No more,'" Sioux Falls City Council Member Christine Erickson said.

When it's complete, the $314 million park is set to include 26 buildings and employ around 2,800 people. Anchors for the park include the University Center, the Graduate Education and Applied Research Center and USD's Biomedical Engineering Program. Governor Daugaard says they're seeing a lot of additional interest.

"I do think we're going to be back here very soon, maybe this year, with one or maybe two more groundbreakings. It's that close," Daugaard said.